Facing Your Budgeting Fears and Taking Control of Your Finances

In the midst of a divorce, a mom of five faces a financial horror story: $40,000 in credit card debt, a huge mortgage payment and minimal college savings -- and she has no idea how to budget. DailyFinance's Laura Rowley offers a few ways she can begin her escape from the financial twilight zone.



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Cheer

I'm 5'9" girl and I met my boy-friend 6'1" on -- Tal lH U Bt. c0M --, why not to have a try, find your love here.....come on

December 30 2011 at 12:07 AM Report abuse rate up rate down Reply
mapiperu0234

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November 05 2011 at 9:45 AM Report abuse rate up rate down Reply
Jyjnhy

My best friend ,she just has announced her wedding with a millionaire old man Ronald who is the CEO of a MNC ! They met via ----SéêkSúɡárDαd.℃⊙M--.- ..it is the largest and best club for rich man date with young and beautiful woman and their admirers to chat online. …you don’t have to be rich there ,but you may meet one ,maybe you wanna check it out or tell your friends ! An excellent idea ! In today's economy, it is vital to keep track of income & expenses. Sharpen all 'survival' skills in this area.

November 03 2011 at 10:14 PM Report abuse rate up rate down Reply
gmydogbud

What should retired folks whos homeowners taxes, state, local taxes, home insurance, car insurance, sewer service tax, food, clothing, etc. keep going up do? While the Mult-Millionaire Congress gave itself a Thirty-six Thousand Dollar Per Year, Cost Of Living Increase, American Senior Citizens, were told that the Cost Of Living Had Not Gone Up! Now Senior Citizens are going to receive a 3.6% increase HOWEVER Medicare payments are going up and the Deductable is also going up! Who do these people in Washington Think They Are Dealing With - A Bunch OF Idiots?

November 01 2011 at 5:36 PM Report abuse rate up rate down Reply
Crafts for Pets

An excellent idea ! In today's economy, it is vital to keep track of income & expenses. Sharpen all 'survival' skills in this area.

November 01 2011 at 11:03 AM Report abuse rate up rate down Reply
tm00004

Sorry if this a double post - didn't see it as pending review.

The world economy is in a real rut and the 1% rich needs to understand the reaction of the 99% not so rich. Case in point, Bank of America intent to raise checking account fee from $10 per month to $15 per month (with new ATM charge). On face this looks like a 33% gain in stock value. What Mr. Moynihan (BofA CEO) missed is that the 99% are watching pennies and will likely destroy their debit cards and use checks for purchases and wait in line for cash withdrawals. Micro-economics is still real.

The result is an increase in cost from .36/ATM to $1.06/Teller Transaction so it’s an increase cost of business of 200%. The stock was highest at $15 this last year now down to $5 and likely to go lower in January with the new “on the customers leg” plan.

We all need to be much more aware of our investments and watch out for this kind of dumb stuff that is a clear indicator of future stock value.

With this betrayal to the customers and stock holders it is unlikely that the stock value will return to $15 anytime soon but may return to about $10 by the Summer of 2012. If it goes down to near $1 by the end of January or early February 2012 then this could be a great buy opportunity. Something to watch

Reference:
http://www.stlouisfed.org/publications/re/articles/?id=1783

November 01 2011 at 12:05 AM Report abuse rate up rate down Reply
1 reply to tm00004's comment
dabrownman

Blame Dodd Frank and Fin Reg laws passed by democrats without any republican votes that took away the cash flow from the banks who now have to make money by charging fees for service. New regulations have pushed bank profits to 1938 levels - that was a real depression - one we may well be heading to if Europe bailout deal fails like it looks like it may well do today,.

November 01 2011 at 12:05 PM Report abuse rate up rate down Reply
Doug Click

This is a stupid story. All of the wrong moves were made from the get go. I have been completely debt free for the last 13 years. Live below your financial means and pay off your debt. Its that simple. I don't make a ton of bread, but i don't let my eago have control to make stupid decisions. I am very financially stable and it is a huge relief.

October 31 2011 at 5:40 PM Report abuse +3 rate up rate down Reply
1 reply to Doug Click's comment
dabrownman

Financial independence is better than any thing you can buy and not have it. Except if you are a lefty and buying Messiah Default Swaps would have been better.

November 01 2011 at 12:07 PM Report abuse rate up rate down Reply
TWBCPA

After 23 years she is just know starting to pay attention to her finances. Wait tell she figures out that it will take about ten years for her to get out that mess. When my wife and I married part of our agreement was that we would track all income and expenses, no credit cards and have a financial plan looking at least five years forward.

October 31 2011 at 2:10 PM Report abuse +1 rate up rate down Reply
daballofire

If you fear budgeting do you also fear brushing your teeth or watching the grass grow? Fear. pride and ego are the three character attributes that cause failure every time., but, there are hundreds required for success. Willingness is one of them. The willingness to do anything like budgeting keeps you from doing nothing,

Sometimes you have to fail to see the right path to take. If you say to yourself 'I wish I would have done that instead' - Do it !

October 31 2011 at 1:00 PM Report abuse -1 rate up rate down Reply
1 reply to daballofire's comment
Doug Click

Some people are determined to fail. Thats thier plan, failure.

October 31 2011 at 5:42 PM Report abuse rate up rate down Reply
charlie4562r

Sounds like a great headline for our White House leadership, doesn't it?

October 31 2011 at 12:29 PM Report abuse -1 rate up rate down Reply
1 reply to charlie4562r's comment
daballofire

The democrat senate hasn't done a budget in 900 days but the white house has each year. The problem is the democrats in the senate get it from their supposed Messiah, don't look at it and then throw it in the trash saying - it's so crappy no one needs to even look at it. They are right but the white house has done its job - as pitifully as humanly and godly (in teh messiah's case) possible.

October 31 2011 at 2:40 PM Report abuse -2 rate up rate down Reply